Our Mission
To clinically advance ELN28, our lead first-in-class, dual-acting soloMER conjugate that combines two clinically proven agents – positioning it as a truly transformative therapy for Hidradenitis Suppurativa.
our Vision
To lead the next wave of innovation in immune-mediated diseases – developing therapies that transform patient outcomes and redefine clinical practice.
about elasmogen
Elasmogen is a privately held biopharmaceutical company leading the next wave of innovation in immune-mediated inflammatory disease.
Our ADC-inspired approach combines biologic precision with localised small molecule activity, creating safer, more effective treatment.
Hidradenitis Suppurativa is a deeply impactful disease, causing significant physical and emotional distress that requires a comprehensive, long-term approach to manage, often involving both medical and surgical strategies.
Hidradenitis Suppurativa – A MAJOR UNMET NEED
HS is a chronic inflammatory skin condition characterised by painful lesions, deep nodules, abscesses, skin tunnels, and scarring, typically affecting the axilla, groin, perianal, and inframammary regions. Beyond physical discomfort, HS has profound psychosocial impact.
Current biologics help fewer than half of HS patients and importantly do not stop disease progression. This means that many patients rely on repeated surgeries to try and reduce the disease’s impact.
Our team has designed ELN28 specifically to meet this need, with the potential to deliver the safest and most effective treatment for HS.
HS Physicians Supporting ELN28 Development
ELN28: Precision Immunosuppression
ELN28 is a first-in-class, dual-acting soloMER conjugate combining two clinically proven agents. Its innovative design brings together targeted TNFα blockade and localised JAK inhibition, improving efficacy while reducing systemic exposure.
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- Dual-action: TNFα blockade plus JAK inhibition for greater efficacy.
- Precision molecular engineering targeting extracellular and intracellular disease drivers.
- Innovative linker design provides tailored, inflammation-driven JAKi release exactly where it is needed.
Efficacy
The combined anti-TNFα and JAKi activities deliver additive benefit in robust preclinical models.
Safety
Preclinical data confirms site-directed JAKi delivery, enabling precision immunosuppression confined to diseased tissue.
Translation
Neutrophil-driven JAKi release has been demonstrated in human cells and patient tissues.
Market Opportunity
The HS market is a rapidly expanding (~16% CAGR) and is expected to grow from its current ~$2 bn size to over $8 bn in the next 10 years.
Current approved therapies show meaningful clinical response in ~30% of patients providing an opportunity for a more efficacious drug such as ELN28.
Source: GlobalData Healthcare 2025
The Elasmogen Team : Ready to Deliver
Leadership Team
We are proud to have the backing and support of our investors; Deepbridge Capital LLP, BGF, the Scottish National Investment Bank and Scottish Enterprise.
Board members
Dr Jane Dancer
Chair
Jane has over 30 years’ experience in the life science industry across biotech, pharma and agrochemicals. She is currently Chair of Elasmogen, Spirea and PharmEnable Tx and an NED at Macomics and Nanosyrinx.
Her past roles include Chief Business Officer at F-star, Vice President of Business Development at Cellzome, and Director of Business Development at MedImmune (formerly Cambridge Antibody Technologies). The first part of her career was spent in the agrochemical industry in research and project management.
She was formerly Chair of the Sir Richard Stapley Educational Trust and on the Board of the UK BioIndustry Association (BIA).
Jane holds an MA and PhD in Natural Sciences from Cambridge University, as well as an MBA from the Cambridge Judge Business School.
Professor Caroline Barelle MBA
Chief Executive Officer
Caroline is founder and Chief Executive Officer of Elasmogen.
With postgraduate qualifications in both business and science, Caroline has a strong commercial, bio-partnering and biologics drug discovery/development background. She has successfully led teams at Wyeth Inc and subsequently Pfizer Inc in Global Bio-therapeutic Technologies progressing early platform technologies to late stage clinical development. Prior to this she was Alliance and Programs Manager at Haptogen Ltd and a key part of the acquisition team that successfully exited the business to Wyeth Inc. She is a member of the Opportunity North East Life Sciences Board, a member of the Scottish Government’s Technology Council, sits on the CPI Medicines Manufacturing Innovation Centre Advisory Board, is a Senior Associate for the Entrepreneurial Business School, Edinburgh and holds an honorary Professorship from Queen’s University Belfast having previously been their Entrepreneur in Residence.
Professor Andy Porter FRSB, FRSE
Chief Technical Officer
Andy is one of the founders of Elasmogen and as CTO manages the company’s extensive patent portfolio and IP strategy.
He also holds a number of Non-Exec positions in Life Science and other businesses in Scotland. Andy is part-time Professor of Medical Biotechnology and Director of the Scottish Biologics Facility, University of Aberdeen.
Since 2005 he has been a Fellow of the Royal Society of Edinburgh and until recently was VP Business.
Andy has worked with academics and companies across the world, developing biologics to a range of diagnostic and therapeutic targets including: oncology, inflammation, CNS disease and most recently Covid-19.
Andy is a graduate of St Andrews University.
Dr Savvas Neophytou
Investor Director
Dr Savvas Neophytou is partner at Deepbridge Capital LLP where he heads up the firm’s Life Sciences business. Savvas also co-founded Acorn Partners, a joint venture between Deepbridge Capital, Alder Hey Hospital and software engineers WeAreNova.
He is a founding shareholder of a number of technology companies including Torafugu Tech and Cerneretec. Torafugu is engaged in the emerging field of data driven enablers to improve health outcomes and Cerneretec is engaged in the development of point of care diagnostics for the acute care hospital setting. He has also been CEO of Now Healthcare Group, an online doctor platform where he was part of the original team that set up Europe’s largest telehealth platform.
Prior to that Savvas had a long career in the City, working for 15 years as an investment banker and ECM at JP Morgan, Bear Stearns, Shore Capital, Cantor Fitzgerald and Panmure Gordon. Sav holds a PhD in psychopharmacology from Nottingham University and a BSc (Hons) degree in pharmacology from Manchester University.
Lucy Edwardes-Jones
Investor Director
Lucy is an investor in BGF’s early stage team, with a focus on life sciences. BGF is a £2.5bn fund supporting earlier stage and established private businesses, and smaller listed companies in the UK.
Lucy’s main role is to source and execute new investments, as well as supporting a number of investee companies at board level. She works across the life sciences space, but has a particular interest in drug discovery platforms.
Prior to BGF, Lucy spent five years in strategy consulting at CIL where she focused on healthcare and pharma. Lucy holds a first class degree in History from Durham University and a Master’s degree in Russian & Eastern European History from Oxford University.
Rod Richards
Non Executive Director
Rod has over 30 years’ experience in the life science industry across both biotech and large pharma.
He has founded three innovative biopharmaceutical companies. As the CEO he has led VHsquared Ltd, PharmaKodex Ltd and Microscience Plc from scientific concept/start up through growth into clinical R&D businesses, raising equity financing while building enterprise value and steering their subsequent successful acquisitions by US and European biopharmaceutical companies.
Prior to this Rod held senior R&D and Commercial management positions at both Glaxo and SmithKline Beecham, heading up Business Development at Glaxo Welcome in the lead up to the formation of GSK.
He is an experienced non-executive Board director having previously held non exec roles at life science companies TdeltaS Ltd and Auralis Ltd and is a former Board member of the UK BioIndustry Association (BIA).
Rod is a graduate of London University with a B.Sc. in Pharmacology
Doctor Rob Boyd
Chief Scientific Officer
Rob brings over 25 years of drug development experience. He was VP of product development at ILC therapeutics. He was previously the Senior Director of Preclinical at MiroBio.
Before this, Robert worked at Oxford Biotherapeutics, where he was UK site head and Scientific Director leading the development of their therapeutic antibody programs in immune-oncology and oncology.
Dr Suhail Nurbhai
Chief Medical Officer
Dr Nurbhai has more than 30 years experience in Clinical Research and Development.
He qualified in Medicine from the University of Dundee and completed his Postgraduate medical training at Hope Hospital in the University of Manchester. He started his industry career at Pfizer Global R&D, initially in Sandwich, UK and subsequently at Global R&D HQ in Connecticut, USA. During this time he held positions of increasing responsibility in GIGU, antibacterial, sexual health, antifungal and neuroscience Therapeutic Areas.
He has subsequently been Head of Clinical and Analytical Science for Takeda in Europe with responsibility for all Clinical Science activities in Neurosciences, Cardiovascular/Renal/Metabolic, Oncology, Gastrointestinal/Genitourinary and Respiratory Medicine, as well as Clinical Pharmacology, Medical Writing, Statistics and Data Management, and then Senior Vice President and Head of Development and Medical Affairs for Shionogi in Europe.
He has been Head of Clinical Development and CMO at four start-up / biotech organisations in US and UK.
During his career he has led teams bringing multiple compounds from pre-clinical phase into clinical studies in both Europe and US, and achieved multiple successful NDA and MAA submissions and approvals.
Dr Obinna Ubah
Autoimmunity Lead
Obinna is a founding member of Elasmogen. He holds the prestigious UKRI Future Leaders Fellowship award and is a Fellow of the Higher Education Academy. Obinna has experience working in patient focused clinical settings, the pharmaceutical sector and has held an honorary lectureship position at the University of Aberdeen since 2019.